OptionFair is located and incorporated in British Virgin Islands, like Cyprus. It is considered a Tax Haven for most financial institutions because there’s little to no regulatory oversight at all. This doesn’t give us a lot of confidence because our money doesn’t get the protection it deserves. However, there is quite a lot of highly rated and very trustworthy broker located there, so you shouldn’t be worry about it. At the end of the day, if a company goes bust, nothing much we could do.
Take PFGbest as an example recently; a fully regulated, USA financial institution but once they went bankrupt, traders couldn’t get their money. The minimum deposit is $250, which’s an average amount; some brokers require less for minimum deposit like uBinary. Recently, OptionFair has implemented the 60 seconds options, so that’s good news for those who has 60 seconds system. However, one major drawback is that OptionFair don’t accept USA clients because of NFA/SEC problem. Scroll down to continue reading our full live OptionFair Review.
OptionFair don’t have the highest number of underlying assets out there, in fact they offer quite limited number of underlying assets. We lead to believe that, they do it because they worry about the stability of trading platform; a general knowledge is that the less asset, the more stable trading platform is. However, TechFinancials could afford a lot more underlying assets, it could reach to even over 100 assets but from what we see, there’s only around 60 underlying assets in OptionFair platform. Due to the lack of assets, they couldn’t serve well the client’s needs. They have very few stocks compared to other broker. However, they do cater to different regions, like Middle East and Asian, even though the numbers of assets are limited. All the major Forex pairs are available for trading; you could trade Forex major 24 hours per day as well.
The reliability of a broker comes mostly from its attached platform and we could assure you that TechFinancials platform is a mature platform, which has been around and served client for some time without any trouble. So, like other brokers use TechFinancials, we haven’t face any problem with OptionFair. The web-based trading interface is easy enough to understand and to start trading right away. The server speed is fast enough for trading activity, the fact that they offer 60s options, the server speed has to be very fast to match up with it. There’s slight delay when executing a trade, but it’s normal for any binary options broker. However, we still do recommend traders to use a dedicated broker for trading only because a web-based platform take a lot of browser’s resources, so make sure you focus on one or limited few activities only or else your browser could crash in no time.
Most binary options broker provide very basic charting because of the web-based platform nature and it’s true for OptionFair as well. Trader could access to history data by pressing the upper arrow, but still it’s a basic line chat with price axis and time axis. We do recommend trader use external stand-alone charting platform for their charting analysis like Metatrader or ThinkorSwim, they all provide demo account for charting only, so, it’s way better to analyze everything there, and make trading decision on binary options platform. Some binary options brokers now offer a new charting platform called metacharts, it basically provides more options and more history data, but still it can’t be compared with external software like Metatrader.
One major advantage of Optionfair trading platform is you have the ability to filter your favorite your trading assets. It’s a huge advantage really because for a seasoned trader, usually they only focus on a few of their favorite trading instruments to yield the most out of it. The major difference between a novice and a pro is that the novices stumble on everything that moves but the pros only focus on a few.
Scroll down to continue reading our full live OptionFair Review.
A major complaint is that there is little to nothing in the way of chart, there’s no news update, tickers or real-time information at all. A least a news’ feed could provide traders extra information for their trading. Someone complain about the apparent lack of underlying assets because there’s lack of some of their favorite assets. Overall, there are not many complaints about OptionFair, in fact, they receive praises way more than complaints.
OptionFair offer around 10% to 30% first deposit bonus.
Deposit is important but withdrawal ability of a broker is way more important for us to rank a broker. Because there are some cases, withdrawal becomes a frustrated and tiring process which cause by some shady brokers. But with OptionFair, so far, there’s no problem withdrawing for us at all, usually they process all withdrawal within 36 hours from the time of request.
OptionFair support is not up to standard in our opinion previously but now they have been doing some major upgrade to their support line. Previously, there’s Live Chat available on their website but when we try to contact support, it’s only sending them email instead having a live person to talk to. However, nowadays, we only have to wait up to 30 seconds for a live person to turn up to answer our inquiries. That shows that they do care a lot about their potential clients.
There’s no ebook or trading video on their library.
- Headquarters: Tortola, BVI (for exact location see map below)
- Founded: 2009
- Domicile: Tortola, BVI (British Virgin Islands)
- Minimum Deposit: $250
- Minimum Transaction: $24
- Maximum Transaction: $5000
- Markets: Forex, Stocks, Indices, Commodities
- Number of Assets: 39
- Max In-The-Money Return: 89%
- Max Out-Of-The-Money Return: 15%
- Lock-Out Period Duration: 5-7 minutes
- Option Frequency: Every 15 minutes
- Early Closure:
- Roll Over:
- High/Low Binary Options:
- One Touch Binary Options:
- Boundary Binary Options:
- Binary Options Builder:
- Sell Options:
- Long Term Binary Options:
- 60 Second Trades:
- Option +:
- Deposit Currency: US Dollar, British Pound, Japanese Yen, or the Euro
- Account Funding: Visa, MasterCard, Dinners Club, Maestro International, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover, Liberty Reserve, MoneyBookers, Money Gram, Wire Transfer
- Accepts Clients From: All nationalities except USA
- Demo Account:
- Deposit Bonus: , up to 100%
No reviews yet